Suggestion Chaos Visual Averages (Haos Visual Averages) Indicators for MT4 – Non-Repainting Forex Indicators

[rashidsiddique03]

ip: A simple and winning system using Chaos can be made by marking Weekly and Daily Support and Resistance lines and counter-trend trading the approaching bounces off those support and resistance lines using the Overbought Extreme and Oversold Extreme signals of the 15 minute Chaos.

Pros:

• Uncanny accuracy in detecting reversals.
• Visually pleasing and easy to see market conditions.
• Can be used as a trend trading indicator or a counter-trend trading indicator.
• Strong back-testing results (almost 95% accuracy on “Extreme” signals).
• An “all-in-one” indicator which can be used to trade for a living.

Cons:

• Even with Overbought “Extreme” and Oversold “Extreme” conditions the indicator can sometimes cause you to trade in the reverse direction of a very strong trend causing large drawdowns before price eventually reverses.
• Overbought “Extreme” and Oversold “Extreme” signals can be few and far between when trading on the 15 minute timeframe and higher. To counter this it’s recommended to trade at least 8 Major pairs to receive “Extreme” signals often.

 

[Goldlyfe]

I like the fact that you stated pros and cons frankly. Great job. What has been the overall profitability of the indicator?

 

[Forexman]

Hi sir I have mt4 version is it works in mt4 for trading binary options?